In business: Report: Global economic growth will be slowed by Europe's recession

PARIS — The world's economic recovery will be "hesitant and uneven" next year, with Europe's debt troubles weighing on more vibrant economies such as the U.S. and in the developing world, a leading international economic body said Tuesday.

Even so, the Organization for Economic Cooperation and Development said it expects the world economy to grow by 3.4 percent next year, up from 2.9 percent this.

The projected advance masks big divergences around the world.

The Paris-based agency said it is gloomier about Europe than it was six months ago in its last update. It now predicts a 0.4 percent contraction this year for the 17-country eurozone and a 0.1 percent fall next year. In May, the OECD forecast the eurozone economy to shrink just 0.1 percent this year and grow 0.9 percent in 2013.

It also downgraded forecasts for the U.S. economy, predicting 2 percent growth next year, compared to 2.6 percent forecast for 2013 in the last economic outlook in May.

The OECD also cautioned that growth outside the OECD — which comprises 34 developed economies mostly in North America and Europe - would be slightly faster but crimped by Europe's troubles.

"A slowdown has surfaced in many emerging market economies, partly reflecting the impact of the recession in Europe," the report said.

The OECD also warned the U.S. and Europe against cutting spending too sharply and too quickly, saying that could further hurt growth prospects.

TransUnion: Late auto-loan payments rose in 3Q

LOS ANGELES — New consumer credit data show that more Americans fell behind on their auto-loan payments in the third quarter, when back-to-school shopping and other needs traditionally put a strain on consumers' wallets.

Credit reporting company TransUnion said Tuesday that the rate of U.S. auto-loan payments at least 60 days overdue rose to 0.38 percent from 0.33 percent in the second quarter.

The July-to-September delinquency rate was down 19 percent from the 0.47 percent rate a year earlier.

TransUnion says the uptick is likely only a seasonal blip.

The auto-loan delinquency rate has fallen on an annual basis for 12 consecutive quarters.

Since the housing collapse in 2007 and recession that followed, many borrowers have made keeping up with car payments a priority above paying their mortgage or other financial obligations.